Mortgage Rates Update > 10/17/13

Mortgage Rates fell considerably again today thanks to the deals reached in Washington on raising the debt ceiling that have ended the government shutdown. Some lenders are seeing the lowest levels seen in weeks, however not every lender experienced the improvement in the same way with some still not back to last week’s best offerings.

The average 30-year fixed rate fell from 4.35% to the 4.25% range, while the average 15-year rate dropped to 3.39%, down from yesterday’s closing at 3.46%. The average 5/1 year ARM increased for the fourth straight day to 3.21%, up from 3.16%.